7.55% 3-Month CD at a California CU - $50K Max (Health Associates)

Health Associates FCU is having a certificate of deposit special called the People Helping People CD. You can get a CD paying 7.55% APY for a 3-month term with a maximum deposit of $50K. The minimum deposit is $5K. No more than $10K can be money currently on deposit at the credit union. The promotion runs through December 31, 2006.

There are some hoops that you must jump through to get the full 7.55%. You can get 5.30% APR without any additional steps. To get 6.49% APY, you must bring in one new member and he or she must open a new checking account with a check order and/or a VISA check card. To get 7.02% APY requires bringing in another new member, and finally, to get the full 7.55% APY requires bringing in a third new member. The second and third new member don't have to open a checking account for you to qualify for the 7.55%. Membership does require a minimum $50 balance in a savings account. These are a lot of hoops but if you join with your spouse, you should at least be able to get the 6.49% APY.

Another issue that hurts this deal is the credit union's narrow field of membership. It's primarily employer based. The employers include hospitals and facilities owned and operated by the Sisters of St. Joseph of Orange. See site for details.

The credit union has branches in Orange and Fullerton, California.

Health Associates FCU is NCUA insured. It has $34.6 million in assets and 5,907 members.